Marketing 101: Building Strong Brands Part II

Taught by three of Wharton's top faculty in the marketing department, consistently ranked as the #1 marketing department in the world, this course covers three core topics in customer loyalty: branding, customer centricity, and practical, go-to-market strategies.
You’ll learn key principles in
- Branding: brand equity is one of the key elements of keeping customers in a dynamic world in which new startups are emerging constantly.
- Customer centricity: not synonymous with customer service, customer centricity starts with customer focus and need-gathering.
- Go-to-market strategies: understand the drivers that influence customers and see how these are implemented prior to making an investment.
Complete this course as part of Wharton's Business Foundations Specialization, and you'll have the opportunity to take the Capstone Project and prepare a strategic analysis and proposed solution to a real business challenge from Wharton-governed companies like Shazam and SnapDeal or to a challenge faced by your own company or organization. Wharton-trained staff will evaluate the top submissions, and leadership teams at Shazam and SnapDeal will review the highest scoring projects prepared for their companies.

AT

Learned a lot of things in this course. Have already started changing the way I think about pricing in my current position. I hope we get the opportunity to apply these concepts in Capstone project.

AK

Jul 18, 2016

Filled StarFilled StarFilled StarFilled StarFilled Star

Profoundly insightful about the Marketing process. I developed a deep respect for the esteemed panel of Professors and their simple approach to explaining and applying complex Marketing concepts.

从本节课中

BRANDING: Marketing Strategy and Brand Positioning

Professor Kahn starts us off with the first of two Branding modules: Marketing Strategy and Brand Positioning. For an overview of all concepts covered in the course, please read the syllabus below. Additional info may be found in the Course Pages. Please participate in the discussion forums as your input will enhance the overall experience of this course!

教学方

Barbara E. Kahn

Peter Fader

Professor of Marketing and Co-Director of the Wharton Customer Analytics Initiative

David Bell

President and Co-Founder at Idea Farm Ventures (IFV)

脚本

[MUSIC] So, in summary, for just this little section. Let me say that there's three principles of marketing that I've discussed. and this is the essence of what marketing is. The first principle is, if you want to provide something to a customer, to a buyer, and get them to buy from you rather than the competition, you've got to give them real, geniune customer value. That's the principle of customer value. The second principle is the principle of differentiation. You have to provide customer value to that customer, what the customer wants, but you have to do it better than the competition. So you have to differentiate your offering. And the third principle is the principle of segmentation, targeting and positioning says, when you're in a customer focused market, you cannot deliver value to everybody and make money, it's just too difficult to do. So what you do is segment the market into different segments. You target or choose a segment you want to focus on, and you position your brand to meet the needs of that target segment. And what are the tools that you use to deliver these three marketing principles? They're the four P's of marketing. The four P's of marketing are product, place, promotion, and price. Let's go back to that exchange, and that exchange says, you have a buyer and a seller. What the seller puts into the exchange, is the product. What the buyer puts into the exchange is the price. The way the seller communicates the benefits about that product to the buyer is called the promotion. Could be advertising, sales, whatever. And the way the seller delivers the product to the customer, is the place decision. It can be in a physical store. It can be online. It can be through, downloading. Whatever the method of distribution is, that's the place decision. So those are the four P's of marketing, product, place, promotion and price. Typically when you talk about marketing, you talk about the business world. But you can use these principles of marketing in non-profit marketing as well. Think about blood donation. The American Red Cross used marketing principles to get increased in blood donations. Now, let's think about, what is the product for The American Red Cross when they want more blood? It's not blood, is it? Because, that's not what they're putting into the exchange. Blood is actually the price. It's what the customer puts into the exhcnage. So what is the product? What the American Red Cross did was try to figure out ways to get people to be more willing to donate more blood. So in one way they did, you know, feel good about yourself, you're going to help save lives. That worked for some people. For some people, that wasn't enough. They needed a little sticker that said, yes I s, gave blood today and I saved lives. For other people, the orange juice and the cookies were enough. And it turned out that some of the best blood donation successes they had were in high schools. You can give but, blood donations I think if you're over 16, and it turned out what, one of the products that the American Red Cross could give to high school kids to give blood, was to allow them to miss class. So that was the product there. The promotion again is the way they communicate the benefits of giving blood to the American Red Cross, and the place decision was how they got the product delivered to the, and the exchange made and in this case the American Red Cross had the blood mobile and, and went to the customer. So that was a very innovative, distribution decision. So, you can play around with these four P's in very interesting ways. And, some of the new businesses that we see now are doing some very clever things with these four P's. But, the basic concept should be clear product, place, promotion, and price. [MUSIC]